IPO Could Be $100B Gift
He famously wears a hoodie, jeans and sneakers, and was born the year Apple introduced the Macintosh.
But Mark Zuckerberg is no child-CEO.
Facebook's chief executive turned 28 yesterday, setting in motion The Social Network's biggest week to date. The company is expected to begin selling stock to the public for the first time and commence trading on the Nasdaq Stock Market this Friday. The IPO could value Facebook at almost $100 billion, making it worth more than such iconic companies as Disney, Ford and Kraft Foods.
At 28, Zuckerberg is exactly half the age of the average S&P 500 CEO, according to executive search firm Spencer Stuart. With eight years on the job, he's logged more time as leader than the average CEO, whose tenure is just over seven years. Regardless, the pressures of running a public company will undoubtedly take some getting used to.
Once Facebook begins selling stock, Zuckerberg will be expected to please a host of new stakeholders, including Wall Street investment firms, hedge funds and pension funds who will pressure him to keep the company growing. Zuckerberg will be about the same age as Michael Dell and older than SteveJobs when those two took their companies, Dell Inc. and Apple Inc., public.
As an aside, throughout his years as Facebook's CEO he's met world leaders, rode a bull in Vietnam while on vacation, started learning Mandarin Chinese and as a personal challenge, wore a tie for the better part of a year.